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Norway's Wealth Fund Doubles Money on Central London Properties

Norway’s $870 billion sovereign-wealth fund said the value of its first real estate investments, stakes in London’s Regent Street and a cluster of offices, shops and apartments nearby, more than doubled in value since they were purchased in 2011 and 2013.

The fund’s 25 percent holding in the Crown Estate partnership, which owns parts of the luxury shopping street and the Quadrant 3 development, is valued at 15.8 billion kroner ($1.9 billion), the world’s largest wealth fund said in a report on Wednesday. The Government Pension Fund Global purchased the stake in two separate transactions for a total of 549.5 million pounds ($801 million).